The Adani Group is set to invest USD 2 billion to build a 2,500MW power plant in Odisha. According to media reports, the investment will raise the capacity of Adani Group by 25 percent and boost electricity supply.
The news comes only days after the group bought Lanco Infratech’s 1,200MW Udupi power plant in Karnataka for Rs 6,000 crore in turn helping the cash strapped Lanco.
Adani Group, the largest private power producer in India, will be signing a pact with the Odisha government in the next four months’ time to set up a new plant, said Rajesh Jha, the man responsible for the group’s mining business in the state.
As per the group’s plans, it aims to generate 1,000 megawatt (MW) of electricity by 2017 in Odisha. The coal will be sourced from the blocks it has in Odisha, which has a total capacity of 70 million tonnes. Currently, Adani Power has an installed generation capacity of about 8,580 MW, which will be increased through the deal with Odisha government and Lanco Infratech.
The company has been on a roll, with the conglomerate winning state approval earlier this month to build a 300-km rail line for its USD 15bn Carmichael coal mine project in Australia that will enable transportation of 100 million tonnes of coal a year after construction.